Multiple Choice
GDP can be represented by the equation: GDP = F x (Fe/F) x (GDP/Fe) , where F represents the total factor supply and Fe represents the number of employed factors. The term (GDP/Fe) represents
A) factor utilization.
B) average factor productivity.
C) income per person.
D) output per capital.
E) factor supply per level of output.
Correct Answer:
Verified
Correct Answer:
Verified
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